Rocket Internet buys 100% of Kuwaiti Talabat for €150M

rocket-internet-talabatGermany’s Rocket Internet seems focused on growing very aggressively via acquisitions across the world. Only a week after it bought 30% of Delivery Hero and the entire shares in Spanish and Italian leaders, Berlin-based incubator-investor has now acquired 100% of Kuwaiti Talabat, the leading food delivery platform in the country and the surrounding region.

The transactions pertaining to the deal will be closed in few week, according to a press release. Talabat will also be integrated into Global Online Takeaway Group which was formed simultaneously with the recent acquisitions.

Headquartered in Kuwait, Talabat is one of the major players delivering food in MENA region, operating also in Saudi Arabia, United Arab Emirates, Bahrain, Qatar and Oman. It claims around 1300 restaurants across the region, including fast food chains like KFC and Burger King.

Oliver Samwer, CEO of Rocket Internet said: “The online food takeaway sector is currently undergoing tremendous change. With the newly created Global Online Takeaway Group, Rocket Internet is at the forefront of consolidating the key markets in one of the most attractive online sectors. The Middle East is one of the most attractive markets with significant growth potential and highly attractive EBITDA margins. The acquisition of Talabat.com is another important step in our long-term global Food & Groceries strategy. We believe in the long-term growth potential of this space and are excited to take advantage of opportunities to build out our global leadership.”

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